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Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their older ships as possible, freight rates are expected to remain at break-even lows or even worse. This has become particularly evident in the dry bulk shipping market, where the industry’s benchmark, the Baltic Dry Index has dropped yesterday to just 753 points, down 3.95% on the day and more than 60% since late last year.
Meanwhile, in the demolition market, as Golden Destiny mentions in its latest weekly report, “Bangladesh scrapping ban has been finally lifted, but the government has imposed a new 5% tax on purchasing vessels for scrap that is going to influence scrap buyers appetite on stronger purchases. The Bangladesh Shipbreaking Association is pushing for a reduction in the rate, down to 0.5% that could lead scrap prices to fall by as much as $25/ldt. Scrap prices for dry and wet cargo are close to $500/ldt, but the current freight market environment offers a strong incentive for shipowners to move with overaged vessel disposals and ease the pain of oversupply. India offers the best levels with Bangladesh to follow, $460-$470/ldt for dry and $480-$490/ldt for wet cargo.
The week ended with 17 vessels reported to have been headed to the scrap yards of total deadweight 1,009,630 tons. In terms of the reported number of transactions, the demolition activity has been marked with a 23% week-on-week decline, due to 30% lower volume of demolition transactions in the bulk carrier segment, whereas there has been a 28% increase regarding the total deadweight sent for scrap. In terms of scrap rates, the highest scrap rate has been achieved this week in the tanker segment by India for M/T “BOW PROSPER” with 12,200/ldt at $525/ldt. India has attracted 41% of the total demolition activity with China to follow by winning 5 disposals. At a similar week in 2011, demolition activity was up by 18% from the current levels, in terms of the reported number of transactions, 20 vessels had been reported for scrap of total deadweight 669,529 tons with bulk carriers and tankers grasping 60% of the total number of vessels sent for disposal. India and Pakistan had been offering $465-$475/ldt for dry and $500-$505/ldt for wet cargo, while Bangladesh market had been inactive from the demolition scene” concluded Golden Destiny.
In a separate report, Clarkson Hellas said that the demolition market has remained very active, with many vessels being circulated and subsequently, a big list of sales to report. “However, to judge the market value of a certain ship is becoming increasingly difficult. As evidenced in the sales list, price levels seem like a ‘free for all’ with no actual pattern emerging, clearly highlighting that each vessels value is an individual case by case scenario. On paper, some units seem similar, yet for some reason, a price differential of anything upto USD 10/ldt can be witnessed.
On the buying front, the Chinese and Indian breakers are taking the plaudits this week.
China has been very busy as they looked to acquire tonnage prior to their New Year festivities and were bidding some aggressive numbers in an effort to claw tonnage away from the Indian sub-Continent. Time will now tell whether this recent positive momentum will continue when the market reopens again after their holidays.
India too emerged this week with increasing price levels. Whether these sudden improvements were from cash buyers over-speculating or actually justified on the back of the breakers indications remains to be seen, but some Owners would have definitely benefited from the sudden enthusiasm emanating from this market.
The good news is Bangladesh is definitely open and for an indefinite period too. Some Buyers are now willing to buy tonnage giving delivery February onwards as they believe the income tax situation would be resolved within this month. There remains however the problem of which breakers can actually open Letters of Credit internally. For Owners to consider Bangladesh as an option, a certain degree of caution must still be adopted. Last thing any Owner would wish for is to arrive at anchorage and delivery is unable to take place due to delayed payments. Some cash buyers are optimistic that no such issues will occur, however this is definitely the time for an Owner to tread carefully and wisely when considering selling their units to this area. Price levels on offer appear to be not as competitive as India. However, Bangladesh may soon offer a viable alternative to China for those vessels completing in the Far East. We need to see several vessels arrive, clear inward formalities and beach without delay to know 100 percent for sure that the market is officially ‘open for business’ concluded Clarkson Hellas
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
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- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Aditya Birla Group - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
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